Law360 Quotes H. Shkolnik On $5B J&J Offer
October 14, 2020
Johnson & Johnson disclosed that it's offering up to $5 billion to end a nationwide torrent of litigation accusing it of contributing significantly to America's opioid addiction crisis, a 25% increase on an earlier settlement proposal.
The tentative deal is $1 billion larger than a global resolution that J&J floated nearly one year ago, and it appeared to have a better chance of resolving most of the roughly 3,000 cases accusing J&J of improper sales and marketing of prescription narcotics.
Hunter Shkolnik of Napoli Shkolnik PLLC, another attorney for MDL plaintiffs, told Law360 that J&J's offer "appears to show light at the end of a dark tunnel."